Below are some general tips on how to get a sense of the value of your artwork. If you are attempting to get an accurate value of an artwork for insurance, auction or selling purposes I recommend that you hire a professional appraiser as they are the ones that will certify their appraisal.
There are hundreds of techniques appraisers use but for this article I will stick to some general and very affective ones to determine the value of your artwork.
Originality- Original artwork is often copied by making a print (giclee, lithography) or copy (manufactured). A print for example (depending on the number of prints) is always lower in price then the original artwork itself.
Generally the more prints made the lower the value each print will be worth. I once went on vacation to Dominican Republic and when I was walking down the tourist markets on the beaches I noticed the paintings and went to check them out. Right away I knew they were prints but many people were buying them as they thought they were genuine originals as the merchants claimed they were even to me. If these tourists knew the difference between a giclee, lithography and an original then it would probably affect their purchasing decisions.
Keep in mind that if you have a giclee of a famous painting, it will probably be worth more then an original of an unknown artist. Also note that if the original artwork made was rare and valuable then it will usually be more rare and valuable as time passes.
Age- The age of your painting will affect its worth. As everyone knows there were many artists in our world that had paintings that never amounted to anything significant until they passed away. I am not saying that you have to wait until your artist is dead for their work to increase as death is not the point I am trying to make. Death however is always the result of time passing.
If you check the back of your canvas look closely and if you can see rough and uneven threads then that is an indication of original handwork. The date can also be found on the back of the painting or by the signature of the artist. Even Comic book collectors know how important it is to keep their collectable in good shape as they almost always keep their books in sleeves and stored properly as the right books will most likely be more rare and valuable as time passes.
Genuine- Everyday everywhere fakes are being sold whether its currency, watches, bootlegged movies, clothing and yes of course artwork. I cannot recall the name of the individual who ended up stealing millions of dollars by painting and selling fake paintings but I do know that to this date hundreds of his fakes are still in circulation. That is scary when you think about it as you look at your artwork on your wall. If you are considering purchasing a painting that is worth more then your car I would more then recommend getting it appraised.
Condition- The condition of the artwork will affect its worth. Simple things such as a hairline cracks, poor touch up jobs or a small tear can decrease its worth. So closely examine your artwork before purchasing or selling it. Even when you are selling the piece I recommended that you tell the buyer of any cracks or problems as honesty is the best policy!
Paperwork- While I agree that most of us are honest and mean well there are always going to be people out there who without the snap of a finger will defraud, lie or cheat you out of your money. Paperwork such as a certificate, letter of authenticity or letter of appraisal will protect you and help you if you have to go to court. Without that piece of paper it will end up in a battle of one person's word against another.
Realistically if you are purchasing a piece for a thousand or less then a piece of paper is great, however think about how much money and time you will spend in court if you find out the piece is a fake. So make sure you do your research about the seller's reputation and the artwork you are going to buy. Trendy- Typical artwork is going to be worth more money then an unusual piece because collectors are always looking for artwork that will accurately represent a given style or period in time. This is again where researching comes in handy. The more knowledge you know the more you can apply it to your decision making. Trends will also up the value of the artwork so capitalizing at the proper time of a trend is a smart move.
Provenance- This word is defined as "Proof of authenticity or of past ownership. Used of art works and antiques." Dealers will use this word when referring to finding out the origin of the work, who owned this piece and where it was made. The answers to these questions will greatly affect the value of the work. Once again researching your artwork and asking the right questions can help you establish the worth of your artwork. Never hesitate to get a second or third opinion if you don't like the answer someone is giving you. Now if someone tells you that your piece is worth nothing or little and then makes you an offer to buy it at a low price, this to me will raise a red flag in my head. Most likely the buyer's intention is to purchase it from you and then sell it for what he/she really thinks its worth.
If you were able to answer most or all of the questions above positively then your artwork will most likely have some value and again if you want a more accurate answer then I recommend that you hire an appraiser to find more accurately your piece is worth.
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